$30,000,000 AI Is Hiding a Scam
Summary
TLDRThe video script discusses the controversial tech product, Rabbit R1, developed by Rabbit Incorporated. The company, originally named Cyber Manufacturer Co, raised millions in venture capital under the guise of an AI project but was previously involved in an NFT scheme called Gamma. The founder, Jesse, is accused of distancing himself from the failed NFT project, which promised a carbon-negative cryptocurrency and other unfulfilled innovations. The Rabbit R1 is criticized for being overhyped and under-delivering, with its functionalities like ride-hailing and food ordering not working as advertised. The script raises questions about the integrity of the team and the legitimacy of their promises, suggesting a pattern of deception from their past project to their current AI endeavor.
Takeaways
- 🐇 The Rabbit R1 is a tech product that has raised tens of millions in venture capital but has failed to deliver on its promises.
- 🔮 The founder, Jesse, is attempting to distance himself from the scam that the company was built upon, which involved overhyping the product's capabilities.
- 🎤 Jesse, the CEO of Rabbit, introduced the R1 as a multifunctional AI assistant capable of performing complex tasks, but the product has been criticized as non-functional.
- 🕵️♂️ The company's history reveals a name change from Cyber Manufacturer Co to Rabbit Incorporated, which is significant due to its past involvement with an NFT project called Gamma.
- 📰 The Gamma project was heavily promoted with promises of a carbon-negative cryptocurrency and a clean energy grid, none of which materialized.
- 🤔 Jesse downplays his involvement with Gamma, describing it as a 'fun little project' and distancing Rabbit from any association with crypto, despite its origins.
- 🗣️ Critics, including Ed Zitron, have accused Jesse of making extravagant promises about Gamma that were never fulfilled, raising questions about the credibility of Rabbit's claims.
- 💸 Concerns are raised about the use of funds raised from investors and customers, especially considering the transition from the Gamma project to the development of Rabbit R1.
- 🚫 The Rabbit team denies any wrongdoing and claims that all promises were delivered or are in the process of being delivered, contradicting the experiences of many.
- 🔄 The script suggests a pattern of overpromising and underdelivering, with the Rabbit R1 facing similar criticisms to the Gamma project.
- 💡 The narrative highlights the need for accountability and transparency in tech startups, especially when they pivot projects and change their business focus.
Q & A
What is the Rabbit R1 and what functionalities does it claim to have?
-The Rabbit R1 is a tech product that claims to have multiple functionalities such as speaking or typing with the user, calling a ride, ordering food, and performing more complex actions like planning a trip.
What is the controversy surrounding the founder of Rabbit R1 and their past project?
-The founder of Rabbit R1, Jesse, is accused of being involved in a scam related to a previous project called Gamma, which was focused on NFTs and crypto. He is now trying to distance himself from this past, claiming it was just a 'fun little project'.
What was the original name of the company that created Rabbit R1?
-The original name of the company that created Rabbit R1 was Cyber Manufacturer Co.
Why did Cyber Manufacturer Co change its name to Rabbit Incorporated?
-Cyber Manufacturer Co changed its name to Rabbit Incorporated about 2 months before their official announcement, possibly to distance themselves from their previous project related to NFTs and crypto.
What was the nature of the project called Gamma?
-Gamma was a project at the intersection of gaming, community ownership, and web 3, which involved the sale of NFTs and had plans for a metaverse and a clean energy crypto coin.
What are the claims made by Jesse about the relationship between Rabbit and Gamma projects?
-Jesse claims that Gamma was just a fun little project and that he left it once the game was open-sourced. He also states that Rabbit will never touch crypto, despite their past being built on crypto NFTs.
What is the criticism regarding the delivery of the Rabbit R1 product?
-The criticism is that the Rabbit R1 product is overhyped and non-functional, with many of its promised features not working as intended.
What were some of the promises made by Jesse regarding the Gamma project that were not fulfilled?
-Jesse promised a metaverse, a clean energy grid, a carbon-negative cryptocurrency, and a comic book, among other things, none of which were delivered.
What is the current stance of the Rabbit team regarding the refund of Gamma NFT holders?
-The Rabbit team has stated that they will not refund investors, claiming that the project was open-sourced and that the promises were fulfilled in three stages, which is disputed by critics.
What is the connection between the brain logic interface and the Rabbit R1 project?
-The brain logic interface was part of the Gamma project's promises, where users would interact with NPCs using natural language and brain logic. It is suggested that this concept might be related to the Rabbit R1 project as a continuation of the same team's vision.
What is the overall sentiment towards the Rabbit R1 and its founder based on the script?
-The overall sentiment is critical and skeptical, with allegations of scam, unfulfilled promises, and a lack of accountability from the founder and the team.
Outlines
🤖 Tech Product Rabbit R1: Promises and Controversies
The video script introduces Rabbit R1, a tech product that has raised significant venture capital but has failed to deliver on its promises. The founder, Jesse, presents the product as a multifunctional AI assistant capable of performing tasks like calling a ride, ordering food, and planning trips. However, the product has been criticized for being non-functional and for the founder's attempt to distance himself from its fraudulent beginnings. The script also hints at a potential scam involving a company history under a different name, Cyber Manufacturer Co, which had raised funds for an unrelated project involving NFTs.
🕵️♂️ Unraveling the Rabbit R1 and Gamma Connection
This paragraph delves into the history of Rabbit Incorporated, previously known as Cyber Manufacturer Co, and its connection to a project called Gamma. The company had raised venture capital for Gamma, an NFT project focused on gaming and web 3 technologies. The founder, Jesse, downplays his involvement with Gamma, describing it as a 'fun little project.' However, contrary to Jesse's claims, the script presents evidence of Jesse's extensive involvement and promises made to investors, including the development of a 'carbon negative Bitcoin 2.0' and a metaverse, none of which materialized. The paragraph raises questions about the use of funds raised for Gamma and the legitimacy of the transition to the Rabbit R1 project.
🌐 The Overhyped Rabbit R1 and Its Unfulfilled Promises
The script criticizes the overhyping of the Rabbit R1, drawing parallels with the unfulfilled promises of the Gamma project. It details the extravagant promises made by Jesse, such as the creation of a clean energy grid, a metaverse, and even a brain logic control system. These promises, which included a storefront, comic book, TV show, and MMO RPG, were all part of a grand vision that was never realized. The script also mentions the idea of a carbon-negative cryptocurrency, which was repeatedly promised but never delivered, leading to accusations of vaporware and false advertising.
💸 Accountability and the Quest for Refunds
In this paragraph, the script discusses the lack of accountability from the Rabbit team regarding the unfulfilled promises of the Gamma project. It suggests that investors in the Gamma NFTs should be refunded, a proposition that Jesse himself had made in the past. However, the Rabbit team denies this, claiming that the project was open-sourced and that the promises were never made. The script highlights the contradictions and denials from the team, including the denial of the promised clean energy grid and the carbon-negative cryptocurrency. The paragraph ends with a sense of disappointment for the Gamma investors and a call to uncover any further hidden truths.
Mindmap
Keywords
💡Venture Capital
💡SCAM
💡AI Assistant
💡Non-functional
💡NFTs (Non-Fungible Tokens)
💡Cryptocurrency
💡Rebranding
💡Vaporware
💡Overhyping
💡Brain Logic Control
💡Gaming
💡Web 3.0
💡Open Sourcing
💡Carbon Negative
💡Metaverse
Highlights
The Rabbit R1 is a tech product that has raised tens of millions in Venture Capital but has delivered on almost none of its promises.
The founder of Rabbit R1 is now trying to distance himself from a scam that the company was built upon.
Rabbit R1 promises to perform various tasks like speaking, typing, calling a ride, ordering food, and executing complex actions.
Rabbit R1 was supposed to ship by Easter 2024, but it's unclear if this has happened given the product's track record.
Tech YouTube reviews indicate that Rabbit R1's AI assistant is borderline nonfunctional.
The company behind Rabbit R1, originally named Cyber Manufacturer Co, had a history in crypto and NFTs before pivoting to AI.
Cyber Manufacturer Co raised venture capital for an NFT project called Gamma, unrelated to AI.
Gamma was marketed with buzzwords like gaming, community ownership, and web 3, but had no real connection to AI.
Rabbit's founder, Jesse, denies any significant involvement with Gamma, describing it as a 'fun little project'.
Investigations by Emily Shepard and Ed Zitron reveal a different story about Gamma, suggesting it was more than just a side project.
Jesse had promised a lot for the Gamma project, including a carbon-negative Bitcoin 2.0, which never materialized.
Questions arise about the use of funds raised from customers when Cyber Manufacturer Co changed to Rabbit.
Rabbit's team denies that the company ever promised a carbon-negative coin, contradicting Jesse's previous statements.
The Rabbit team claims that all promises were delivered or are in the process of being delivered, which is disputed by critics.
Critics argue that Rabbit is another overhyped product with a history of abandoning investors, similar to the Gamma NFTs.
Jesse suggested refunds for Gamma NFT holders in the past, but Rabbit's team now states that refunds will not be given.
Rabbit's team attempts to distance the company from Gamma, despite evidence suggesting a direct connection.
The Rabbit team's denial and lack of accountability raise concerns about the integrity of the company and its products.
Transcripts
the rabbit R1 is a tech product that has
raised tens of millions inv Venture
Capital promised the world and delivered
on almost none of it worse though it's
built on a scam that the founder is now
trying to distance himself from but hey
where are I manners I'm trying to be
more positive in
2024 so let's let this company introduce
themselves at least before we say
anything negative about them hi everyone
my name is Jesse and I'm the founder and
CEO of rabbit this is the rabbit R1 I
can speak or type with R1 I can also use
R1 to call a ride I can also use R1 to
order food I can also make R1 to a set
of more complex actions for example if I
want to plan a trip to London I can just
describe what I wish in full to R1 you
can order the R1 now at
rabbit. and we are shipping Easter 2024
well there you go that's not so bad you
got yourself a standard Tech guy in a
black shirt promising the world Apple
keynote backround what could go wrong oh
and I guess it's past Easter 2024 so the
product should have shipped so before we
talk about the scam angle let's briefly
check in with tech YouTube for how this
AI assistant is assistan thing the thing
that you get at the beginning is like
borderline nonfunctional look in Uber to
LT Labs the ride share status is
currently unavailable get me a ride
apologies the Uber ride request couldn't
be processed what is
this you are holding a taco oh that's
not good I could give them a few lessons
on positivity turns out basically
everyone in the tech sector tagged team
this product for being non-functional or
playing wrong about things that rabbit
said the R1 could handle things just
weren't working what if I told you that
wasn't the the biggest scam that this
company is built on something much worse
and now that I've been so cheery and
positive let's go down the rabbit hole
and see what's under the hood yes it's a
bunch of rabbit jokes so the first thing
we need to do is go to their web page
the R1 is created by something called
rabbit Incorporated but this company has
a strange history it was originally
registered under a different name cyber
manufacturer Co in fact they changed
their name 2 months before their
official announcement and it turns out
that name change is pretty significant
because cyber manufacture Co wasn't just
like a shell company or the same company
under a different name they had
separately raised venture capital for a
completely different project not AI it
was for nfts now before you laugh
remember this is 2021 when people took
nfts very seriously according to a press
release the project was called gamma and
it was at the intersection of Gaming
Community ownership and web 3 buzzwords
what does that have to do with AI well
not really much conversely rabbit today
also sort of wants nothing to do with
crypto their founder Jesse announces for
rabbit let me be clear quote we will
never touch crypto never okay well
that's pretty strong but given their
whole past is built on crypto nfts it's
a little strange now when gamma is
brought up Jesse doesn't really deny
that he ran the project he sort of makes
it sound like it was no big deal just
kind of a thing of the past quote gamma
was a fun little project I was involved
with during early Co time my main work
is to build a Unreal Engine 5 space
station themed game that I later open
sourced yes gamma released nfts and I
bought a bunch myself just for fun never
trade Never released any token or crypto
coins and I left that project once the
game was open
sourced well there you go haters case
closed it was a fun little multi-million
dollar project he did he just built it
on Unreal Engine he may have sold a few
nfts but he bought a few nfts so you
know it's not a scam please don't look
into this please please do not look into
this is not a scam oh some people may
have looked into it
first Emily Shepard and then the writer
and podcaster Ed zitron jumped in The
Fray with a great article now I spoke to
Ed and he told me a very different story
than Jesse about this gamma project it's
so weird and it's the same company and
in 2021 they raised this 6 million and
then Jesse Lou across several hours of
Clubhouse I subjected myself to promised
the world and more now I have to say
promise the world and more is slightly
inconsistent with fun little covid
project so I decided I needed to listen
to these recordings of Jesse talking
about Gamma myself back in the day and
find out who was really telling the
truth Jesse or Jesse I don't want to
make GMA or none of us want to make GMA
as a hyp and dump program this is a
legit uh team with millions of dollars
of fundings behind basically we're
dumping millions of monies into it uh
just to make sure that uh it will be a
next level
experiences okay I have to admit it
definitely sounds like Ed is right this
is sold as whatever the opposite of a
quick nft hype and dump project is and
this is where things get much weirder so
nft is only just the beginning the very
beginning of this we probably think that
the N part will only take you know no
more than 20% of the entire weight of
this entire Bama project so after nft we
have this huge uh groundbreaking ideas
about Gamma verse then after that we
have this uh again huge groundbreaking
ideas about the clean energy versus
gamma coin uh and that you know uh the
the chances that gamma coin become the
first not only uh carbon neutral but
actually carbon negative crypto 2.0 or
Bitcoin 2.0 I think that's complete the
entire gamma story hopefully now you're
starting to see why I think it's strange
for Jesse to claim that gamma was a fun
little project where he never released
these tokens or crypto coins when that's
sort of what he promised he told people
he was going to release a carbon
negative Bitcoin 2.0 and look I know it
sounds stupid now but again 2021 was a
different time and remember Jesse had
millions in backing it's not hard to see
how people took him seriously he said it
didn't matter how the nfts did he was
going to execute cute but where are
those Millions you know the money raised
from customers when the company changed
to Rabbit where did it go did it go to
develop rabbit a completely different
project I don't know I'd love to sit
down with Jesse and find out what I do
know though is that so many of the
promises of gamma didn't happen and this
is relevant to the R1 not just because
this project is built on the skeleton of
that scam project it's also because the
R1 was overhyped in a similar way as a
Do-it all device but this same company
isn't some history lless company they
have a history of abandoning investors
like they did with gamma nfts I mean
Jesse even told people who were worried
about the nfts don't pay attention to
that you know it's all going to work out
you just got to be a true supporter I
would suggest for our true supporters uh
do not pay too much detail about the
current nft mechanisms because that
doesn't matter you know like I I can
safely say that even if the entire nft
project completely failed which I don't
think that's the case we're going to
still push the GMA verse and we can
still push the the uh the clean energy
and Gamma coin happen using our FS I
cannot emphasize enough that was a lie
that never happened the clean energy
gamma coin never got published or built
or launched even though Jesse said they
were going to do it they had the money
by the way we all know it's vaporware
but I think it's important to really
hear him sell it because this is the
same guy who wants you to take him
seriously when he sells you the future
of AI take a listen to the whole Vision
really laid out GMA coin which is
basically Bitcoin 2.0 that is 100%
generated by Clean Energy and we did the
mass we did the calculations to where if
you own over 1,800 M of clean energy
generation that means you will have
extra generated electricity that you can
donate back to City
grade so the general concept is let's
say if you own a GMA
nft that means you own the equal portion
in valuation of your nfts at that moment
of that clean energy grid that we
started building in the real world that
means you own that power that portion of
the clean energy solar panels that
generates that power and that means you
own that power and that also means that
you own that portion of that power and
that power will be used to generate
gamma coins that means you can
earn your gamma coins out of this entire
uh CLE energy cycle
all right let's try to suspend our
disbelief for a second here and figure
this out basically he's saying buying
nfts somehow would build a clean energy
grid which you would sort of co-own
which would make clean tokens sort of
the thing and and look I know that
sounds a little insane but the funny
thing is it's sort of the most sensible
part of this project because uh as I
learned that wasn't even close to the
end of it they were saying there was
going to be a storefront on I think
Fairfax Avenue across from Supreme in La
they were going to do a comic book they
claimed uh there's a Discord comic book
yeah they said a comic book a TV show an
MMO RPG and at one point yes and then
Jesse Lou at one point said that the
future of this thing you would control
using your brain logic it is insane am I
the only one who doesn't know what brain
logic control is look when I first heard
this I thought this cannot be right this
project is already crypto plus nfts plus
clean energy plus comic books surely
they aren't going to wrap in AI as well
right the ultimate goal is that each NPC
will be powered by uh AI algorithms and
then you will be interact directly with
them using your natural language and
your brain logic I think that will be
the ultimate goal and when I say
ultimate goal I don't think that's like
a 10 years plan I think you know in next
couple of years we might just have a
very good chance to achieve it oh oh he
did he promised it in two years okay
well uh why not toss in AI to the
buzzword salad in fact I guess it maybe
relates it more to Rabbit maybe we do
have the connection right the brain
logic interface is the
connection I I mean why not just make it
the Matrix while you're at it I mean it
surely is a matrix to my to my extent
and to the original concept of of the
Matrix that you know you will be rebor
reborned with your alter identity in
this metaverse and whatever you do in
the real world matches the exact
consequences in the digital world okay
did this man just do the if you die in
the game you die in real life
unironically while selling
nfts the answer is yes and my only
follow-up question is if you get scammed
in the metaverse do you get scammed in
real life in this world too look I'm not
here to stump for the big wig Venture
capitalists who lost their faces on this
at the end of the day these are both
consumer facing businesses they got real
people to invest real money into both
the $200 rabbit R1 and into this gamma
nft project both are overhyped one just
already didn't deliver what they
promised while the other is working on
fixing it so what can be done here well
for one the minimum is that the gamma
nft holders should be refunded the money
they spent I mean this isn't even my
crazy wacky suggestion Jesse suggested
it himself in those clubhous calls and I
better pay my money to collect your nft
back if you think this is just an nft
hype and dump project I have to say that
so the communities will have my words
anyone that is not envisioning the Gama
to the stage two or three just want to
make a a coup of e out of stage one
reach out to me I will buy your nfts
okay I will buy your gamas and get out
all right all right we'll take you up on
that yes I got a haircut so I reached
out again to Jesse about these refunds
but he didn't respond again the rabbit
team did though they told me Jesse would
not refund investors the quote was out
of context the project was never
abandoned it was actually op sourced
what does that mean well rabbit claims
the gamma team delivered everything they
promised in three stages the one problem
is the three stages they gave me aren't
the three stages they promised the
metaverse by the way they said they
created to is not a metaverse it's an
Unreal Engine project file that I
downloaded to play it's based on a
starter game called Lyra you can see the
starter assets here and the things gamma
did do made the game so buggy that it
crashed every minute but it gets worse
the rabbit team denied gamma ever
promised the carbon negative coin which
they repeatedly promised they said the
coin you referred to never materialized
nor was it ever promised or delivered
now obviously I thought I had a stroke
here I was listening to Jesse promis it
but also he even put it in a video
saying explaining gamma with our road
map ultimately our efforts will lead to
the GMA token the first ever carbon
negative cryptocurrency powered by our
son together we will create a
sustainable future for all life on the
planet we call home join the Discord
today and meet your fellow crew
members G I don't know how they could
have been more clear I think it's
amazing to have them say now we never
promised that only to find a road map
video with you promising in big letters
carbon negative cryptocurrency it's just
gaslighting at this point to pretend
otherwise what is funny is that rabbit
also mentions clean energy initiatives
they say they did like reducing gas fees
but again that's not what they promised
they promised a clean energy grid Jesse
also promised it on Discord his post was
in Chinese but he's clearly talking
about Open Sea transactions being used
to buy land to build the clean energy
grid which is going to help mine game of
coins which is exactly what he said on
clubhouse I mean these people are
contradicting themselves in multiple
languages so I'll let you decide at the
end of the day if the rabbit team is
being honest here towards the end they
even tried to tell me that gamma in our
opinion and as stated in the fact sheet
has no connection with rabbit but the
fact sheet they're talking about they
sent me in a document called gamma
project fact sheet you can't just
declare your own facts when it's the
same company who made both things the
rabbit and the gamma project how can you
say there's no connection but after
realizing no accountability would be
taken and no refunds would be given by
this project I began to feel bad for
gamma investors it made me wonder what
else is this team hiding
well I decided to find out
[Music]
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